SALTUS Technology AG
Saltus Technology AG english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Die SALTUS Technology AG, specialist for torque- and measuring technique as well
as precision parts, shows a total loss before taxes of – DM 26,1 million for
the last fiscal year (1.2.2000 – 31.1.2001) in the annual account according to
IAS standards.(previous year: -6,6 Mio DM). The profit prognosis of DM 1 million
by former CEO and major stockholder Mr. Peter Wirtz was without any foundation.
The DVFA/SG-result is decreased at DM -7,2 million (-3,8 Mio DM) i.e. -3,55 DM
(-1,87 DM) per stock. The result reflects the intensive investigation of all
business procedures and balance positions initiated by the newly formed Board as
of January 15th,2001, which turned out in an disclosure and revised valuation
of numerous positions in the annual report.
The reason for these losses are to be found in value corrections on
claims against arrested former Board Members Mr. Peter Wirtz and Mr. Lothar
Vogel at a total of DM 10,7 million. Major value corrections are also due for
last year acquired US subsidiary TorqTec International Inc. in the amount of DM
1,9 million as well as partial write-off in the amount of 1,9 Mio DM.
Additionally unforeseen write-offs for business and company values of SALTUS
Goetz Kastenholz GmbH in the amount of DM 4.2 million had to be made.
Furthermore the result is burdened by several funded debts, which
total to an amount of nearly DM 9.0 million and are mainly based
on latent risks which resulted in the business methods of the former
CEO Peter Wirtz.
However previous year’s turnover was increased to DM 64.8 million
against DM 57.6 million, which corresponds to a percentage of 12.5%
but the estimations of DM 68 million were not achieved and the figure
does not meet expectations.
Nevertheless, Speaker of the Board, Dr. Wolfgang Koll, is confident
that despite the published figures and the momentarily difficult
market surroundings SALTUS Technology AG will, on a long-term basis,
maintain a strong market position because of its innovative products.
He underlines the prognosis given at the DVFA/SG Analyst-conference
at the beginning of May that a more or less well-balanced result with
an increase of turnover to DM 78 million is to be expected for the
current fiscal year.
end of ad hoc announcement (c) DGAP 28.05.2001
Issuer’s information/explanatory remarks concerning this ad hoc announcement:
For more detailed information please see the annual report
2000/01 by turning to our Homepage under www.saltus.de or
directly contact
Ms. Brigitte Gottwald/Ms. Dorothee Flocke
Secretary of the Board
SALTUS Technology AG
Tel.: 0212 – 5960-120/420
Fax.:0212 – 5960-122
e-mail: info@saltus.de
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WKN: 716100; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
280801 Mai 01
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